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    Avn Result 29-08-2024

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    Avn Result 29-08-2024

    Uploaded by

    mujahid.bestow
    4 views3 pages
    Business related

    Original Title

    AVN RESULT 29-08-2024

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    4 views3 pages

    Avn Result 29-08-2024

    Uploaded by

    mujahid.bestow
    Business related

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    © All Rights Reserved
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    of 3

    Regional Operations Centre

    The Avanceon Building


    19 km Main Multan Road
    Lahore 54660 Pakistan

    29 August 2024 AVN/PSX/F/29082024

    The General Manager.


    Pakistan Stock Exchange Limited.
    Stock Exchange Building,
    Stock Exchange Road,
    Karachi.

    Subject: Financial results for the 2nd Quarter / Half Year ended 30 June 2024 – Consolidated
    and Standalone.

    Dear Sir,

    We would like to inform you that the Board of Directors of our Company in their meeting held at
    Thursday, 29 August 2024 at 11:00 A.M. at Regional Operations Centre, The Avanceon Building, 19-
    Km, Main Multan Road, Lahore / online, recommended the following: -

    (i) CASH DIVIDEND NIL


    (ii) BONUS SHARES NIL
    (iii) RIGHT SHARES NIL
    (iv) ANY OTHER ENTITLEMENT/CORPORATE ACTION NIL
    (v) ANY OTHER PRICE-SENSITIVE INFORMATION NIL

    The unaudited financial results of the company (consolidated and standalone) for the half year
    ended 30 June 2024 are as per attachment.

    The Half Yearly Report of the Company for the period ended 30 June 2024 will be transmitted
    through PUCARS separately, within specified time.

    Yours truly,

    Ahsan Khalil | Company Secretary

    cc:
    Director/HOD,
    Surveillance, Supervision and Enforcement Department,
    Securities and Exchange Commission of Pakistan
    NIC Building, 63 Jinnah Avenue, Blue Area,
    Islamabad.

    www.avanceon.ae | Enquiries: [email protected]


    AVANCEON LIMITED
    STATEMENT OF PROFIT OR LOSS (UN-AUDITED)
    FOR THE HALF YEAR ENDED JUNE 30, 2024

    Half year ended Quarter ended


    June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023

    (Rupees in '000) (Rupees in '000)

    Revenue 1,355,416 670,305 822,900 346,514

    Cost of sales (827,983) (546,100) (537,676) (341,674)

    Gross Profit / (Loss) 527,433 124,205 285,224 4,840

    Administrative and selling expenses (282,747) (1,039,146) (192,720) (970,674)


    Other expenses (97,508) (3,319) (67,368) (1,664)
    Other income 14,426 2,043,705 13,696 1,206,619

    (365,829) 1,001,240 (246,393) 234,281

    Profit / (Loss) from operations 161,604 1,125,445 38,831 239,121

    Finance costs (80,917) (75,859) (46,451) (40,907)

    Profit before income tax, minimum tax and final taxes 80,687 1,049,586 (7,620) 198,214

    Final tax (1,178) (955) 1,386 625


    Minimum tax (29,229) (16,086) (13,885) 10,650
    Profit / (Loss) before tax 50,280 1,032,545 (20,119) 209,489

    Taxation - - - -
    Profit / (Loss) for the period 50,280 1,032,545 (20,119) 209,489

    Combined earnings per share


    Restated Restated
    Basic 0.13 2.67 (0.05) 0.54

    Diluted 0.13 2.62 (0.05) 0.53

    Chief Executive Chief Financial Officer Director


    AVANCEON GROUP
    STATEMENT OF PROFIT OR LOSS (UN-AUDITED)
    FOR THE HALF YEAR ENDED JUNE 30, 2024

    Half year ended Quarter ended


    June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023

    (Rupees in '000) (Rupees in '000)


    Restated

    Revenue 5,255,724 5,904,371 3,282,179 4,706,080

    Cost of sales (3,651,369) (4,194,841) (2,374,125) (3,243,132)

    Gross Profit / (Loss) 1,604,355 1,709,529 908,054 1,462,949

    Administrative and selling expenses (1,274,690) (5,897,079) (774,141) (5,443,035)


    Other expenses (78,717) (3,319) (40,895) (1,664)
    Other income 22,587 5,137,700 20,336 4,454,438

    (1,330,820) (762,697) (794,700) (990,261)

    Profit / (Loss) from operations 273,535 946,832 113,353 472,688

    Finance costs (212,675) (117,744) (91,924) (60,144)

    Profit before income tax, minimum tax and final taxes 60,860 829,088 21,430 412,544

    Final tax (2,472) (3,174) 475 (301)


    Minimum tax (33,909) (18,150) (15,576) 9,913
    Profit / (Loss) before tax 24,479 807,763 6,329 422,156

    Taxation 3,401 (19,375) 10,980 (2,782)


    Profit / (Loss) for the period 27,881 788,389 17,310 419,374

    Attributable to:
    Equity holders of the Holding Company 4,646 718,575 25,839 412,018
    Non-Controlling Interest 23,235 69,814 (8,529) 7,356
    27,881 788,389 17,310 419,374

    Combined earnings per share


    Restated Restated
    Basic 0.01 1.85 0.04 1.08

    Diluted 0.01 1.82 0.04 1.06

    Chief Executive Chief Financial Officer Director

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